Carlo A. Ciccone

Carlo Ciccone graduated from Youngstown State University (B.S., 1984) majoring in Accounting and received his legal education at the University of Akron’s School of Law in Akron, Ohio (J.D., 2005). Carlo is a licensed, active CPA. Carlo started his career in 1984 in accounting working for Banc One Corporation and gained a significant amount of experience working with lenders, accountants, trust officers, and federal and state bank regulators. Carlo joined the U.S. Department of the Treasury’s Office of Thrift Supervision as a federal bank examiner in 1989 and was in charge of small- to medium-sized bank examinations in various regions of the Northeast United States. In 1993, Carlo became the Chief Auditor at a medium-sized bank in Trumbull County, Ohio and had since joined larger banks as the Assistant Audit Director. During his time at FirstMerit Corporation in Akron, Ohio, Carlo attended the evening program at the University of Akron’s law school for four years while working full-time and running an Internal Audit Department of 25 professionals. During his tenure at these larger banks, Carlo became well versed in such disciplines as trust administration, commercial property transactions, residential lending and foreclosures, loan workouts, taxes, federal banking and consumer compliance regulations, and investment management, especially in the areas of asset/liability management and the use of derivatives to hedge risk.

After graduating law school, Carlo became the Chief Auditor at MemberHealth, Inc., a provider of Medicare Part D Prescription Plans and opened a sole law practice in the evenings and on weekends. During his time at MemberHealth and with the use of data mining software, Carlo aided in recouping over $1.2 million in overpaid prescriptions. In October 2008, Carlo transitioned to a full-time lawyer, serving primarily the tri-county region of Trumbull, Mahoning, and Columbiana Counties. Carlo has provided many hours of pro bono services and was recognized in 2007 as Community Legal Aid Society’s “Volunteer of the Year.” Carlo focuses his practice in several areas: representing people who have IRS and state tax problems, bankruptcies, white collar criminal defense, and business and commercial transactions. Outside the office Carlo serves as Co-chair of St. Mary Church’s 400 Club in Warren, Ohio. He is married, with two teenage children. His hobbies include hiking, genealogical research, and playing guitar.

Tax Practice and Litigation

Carlo’s tax litigation practice includes representation of clients overwhelmed with business and individual tax issues, resulting at times from misapplication of the tax laws and other times from IRS error. Often such litigation begins with an audit by an IRS agent and subsequently, allegations of under-reported income or over-reporting of deductions, and at times fraud or other criminal activity. Carlo’s CPA designation and accounting and tax background result in a quick grasp and understanding of the complicated tax issues involved and the ability to develop a range of solutions for his clients. Examples of tax cases Carlo has handled include the following.

A business owner contracted with a municipality to perform work to demolish a city-owned building. He in turn, sub-contracted the work to a professional demolition company. The proceeds were correctly classified as income to the business owner but the deduction for the payment to the demolition company were not considered and the business owner was assessed tens of thousands of dollars in taxes due, plus interest and penalties. After meeting with IRS counsel, the matter was successfully concluded without the business owner paying any additional proceeds to the IRS.

Carlo’s client, an ex-spouse of a construction company owner, had received an IRS Notice of Levy of her primary residence because her ex-husband failed to file several years of tax returns and as a result, never paid taxes on income earned from his business. The IRS was consulted on numerous occasions in the past regarding this situation but to no avail. Carlo’s prior work as an actual tax preparer aided in determining the best route for Carlo’s client. Ultimately the case settled when the IRS recognized the innocent spouse status of Carlo’s client.

The Economy Takes Its Toll

Bankruptcy filings are reaching a peak as the economy has thrown many individuals and small businesses into a tailspin. Many of Carlo’s bankruptcy clients have hit hard times through no fault of their own, with little or no hope of getting themselves out of debt that at one time was serviceable by income that no longer is in existence. Although unemployment has been extended many times for these individuals, cash flow is not there to pay off debts and unsecured creditors have become most difficult to deal with because, in turn, they are experiencing enormous losses through numerous defaults on their credit extensions and liberal lending practices of the past.

Carlo has represented clients in bankruptcies who have decided to start their financial journey anew. Carlo also represents debtors in adversary proceedings as a result of creditors who allege fraudulent activity on the part of the debtor.

Criminal Defense, Computer Crimes, Accounting Forensics, and eDiscovery

Not all individuals who are charged with crimes are guilty. Rarely does the system intentionally arrest and charge an innocent person but false allegations by vindictive spouses, business partners, angry family members, or others with a motive to make false allegations are sometimes made. As a sole practitioner, Carlo is able to provide a personal approach that he believes large law firms cannot provide. When you are charged with a serious felony offense Carlo handles every part of your case.

Carlo brings keen legal experience and a broad base of practical accounting knowledge to his current clientele. Carlo has been uniquely involved in evidence discovery for many years through the hands-on and expert use of data analysis and interrogation software and use of accounting forensic and auditing techniques, initially in his accounting and auditing capacity in search of fraudulent transactions, income enhancement and cost recapture and now primarily in the role of litigation support for white collar criminal defendants. Carlo is a former bank examiner and bank internal auditor who understands the intricacies of financial transactions and recognizes the characteristics of fraudulent activity. As a Certified Information Systems Auditor, Carlo knows how and where to search for activity that could present the greatest defense to clients indicted for fraud and determining alternatives to what is being alleged against his clients.

Commercial and Business Transactions

Carlo’s twenty plus years of practical financial industry experience comes to play in many of his clients’ dealings. Carlo is intricately experienced in all aspects of financial institution consumer compliance laws and regulations and aids his clients in presenting defenses against banks that have decided to play hardball with their borrowers or depositors.

Mr. Ciccone has established LLCs and non-profits for his clients, which includes developing tax and business strategies that minimize tax liability and enhance net income. Carlo is also well-versed in corporate governance issues and with Sarbanes-Oxley Act requirements. He can work with corporate counsel to develop guidance and increase awareness of important Securities and Exchange Commission regulations that implement Sarbanes-Oxley and other corporate governance standards.

Mr. Ciccone is a member of the National Association of Criminal Defense Attorneys, the Ohio Association of Criminal Defense Lawyers, the American Bar Association, the Ohio State Bar Association, the National Association of Consumer Bankruptcy Attorneys, and the Mahoning and Trumbull Bar Associations.

Carlo is admitted to practice before the courts of the State of Ohio, the United States District Court for the Northern District of Ohio, the United States Bankruptcy Court for the Northern District of Ohio, and the United States Tax Court.